Cotton Tufts to John Adams

[dateline] Weymouth Jany. 6. 1791

[salute] Dear Sr.

We begin to feel the good Effects of our national Government— By the Presidents Speech
at the opening of the present Session of Congress, our public Affairs wear a promising
Appearance.1 His Speech gave a new Spring to public Credit; in the Course of Three or Four Days
after it reachd us public Securities rose 10 or 15 Pr Ct— The several Departments of Government being well filld, from the firm prudent &
upright Conduct of officers, Content will follow, Murmurs cease and a general Confidence
in the national Goverment be established—

Agreable to your Request, I have loand your continental Securities—have taken two
sets of Certificates as per Mem. enclosed—2 Your State Notes, I have yet on Hand, thinking it best to let them lay, till our
Genl Court shall have discussed the Subject of their public Debt, which, I presume, will
be taken under Consideration { 173 } in their appraching Session, which commences on the Third Wednesday of the present
Month—3

I have settled with the Printers, stopd Adams & Freeman's Paper, directed Edes & Sons
to send no more after the Expiration of the present Quarter, wch. will end in February, and have continued the Centinel—4

I am extremely sorry to hear of the Indisposition of your Family— I hope to hear in
Your next of their Restoration to Health, for Yours & their Happiness You have the
ardent wishes of / Your Friend & H Ser

1. George Washington spoke at the opening of the third session of Congress in Philadelphia
on 8 Dec. 1790. “The abundant fruits of another year have blessed our Country with
plenty, and with the means of a flourishing Commerce,” he said. “The progress of public
Credit is witnessed by a considerable rise of American stock abroad as well as at
home.” The president also mentioned the opening of a new Dutch loan, a petition for
Kentucky statehood, Native American hostilities on the western frontier, and the need
to protect American commerce from political upheaval in Europe (First Fed. Cong., 1:497–501).

3. The Mass. General Court convened on 26 Jan. 1791 and adjourned on 12 March. In a speech
opening the session, Gov. John Hancock praised Congress’ Aug. 1790 assumption of state
debt but expressed concern that the amount to be paid to Massachusetts lenders was
capped at $4 million. Hancock proposed that the legislature fund the residue from
state revenues, and on 9 Feb. 1791 the legislature agreed to do so “whenever it is
assertained what Sum remains to be provided for by this State.” A 24 Feb. motion to
consider Hancock's proposal further was defeated in the expectation that Congress
might remove the limit. The federal limit remained in place and the legislature eventually
funded the shortfall (Mass., Acts and Laws, 1790–1791, p. 155, 168–170, 214, 559–561; Boston Columbian Centinel, 26 Feb.; Boston Independent Chronicle, 17 March; Woody Holton, “Abigail Adams, Bond Speculator,” WMQ, 3d series, 64:837–838 [Oct. 2007]).

4. Edmund Freeman (1764–1807) was printer of the Boston Herald of Freedom, a newspaper that, although ostensibly nonpartisan, leaned Antifederalist. Tufts
also canceled the more overtly Antifederalist Boston Gazette and Boston Independent Chronicle; see AA to Tufts, 17 Jan. 1790, and note 1, above. Tufts continued the Massachusetts Centinel, the only Federalist Boston newspaper (Frederick Freeman, The History of Cape Cod: The Annals of Barnstable County, 2 vols., Boston, 1862, 2:148; Stewart, Opposition Press, p. 875).